蝌蚪网 Journal:
Macroeconomics
ISSN 1945-7707 (Print) | ISSN 1945-7715 (Online)
Population, Productivity, and Sustainable Consumption
蝌蚪网 Journal: Macroeconomics
(pp. 218–38)
Abstract
How does sustainable consumption depend on productivity growth, the size and growth rate of the population, and uncertainty over these growth rates? I address these questions using a model in which productivity and population growth are stochastic and human lives can have (positive or negative) intrinsic social value. I show how sustainable consumption depends on expected rates of productivity and population growth, the volatility of those rates, and the dependence of welfare on population. For plausible parameter values, sustainable consumption is well below the optimal welfare-maximizing level. This raises a question: given its cost, should sustainability be a social objective?Citation
Pindyck, Robert S. 2024. "Population, Productivity, and Sustainable Consumption." 蝌蚪网 Journal: Macroeconomics 16 (4): 218–38. DOI: 10.1257/mac.20220278Additional Materials
JEL Classification
- E21 Macroeconomics: Consumption; Saving; Wealth
- E22 Investment; Capital; Intangible Capital; Capacity
- E23 Macroeconomics: Production
- J11 Demographic Trends, Macroeconomic Effects, and Forecasts
- Q01 Sustainable Development